My call for today was totally wrong!!! Of course, if you do this you will be wrong some of the time. Question I am asking myself is if I need to adjust/reposition my placement of the cycles. But, I need more time/data to make that decision.
One thing you will learn if you trade is - you may expect something and the opposite happens. When that happens you have decide how to play it. You always play the market in front of you - not what you thought would happen. So with the market up substantially (and the NAZ up the most) I took a partial position in QID (double inverse ETF of the NAZ 100) because I believe the downside is not complete. If I am wrong I lose.
Tomorrow it looks like the 11.2TD and 5.6TD cycles should be down. The 22TD cycle is hard up into a top. The 2.8TD is up. With the 22TD hard up into a top there may be an upward bias to the short cycles (that appeared to be the case today). So the longer cycles (20 week and 1 year) may decide the outcome tomorrow. The 22TD cycle spent quite a bit of its upside amplitude today. So I expect tomorrow will be down. I could be wrong (again) if I am wrong about the strength of the 22TD cycle's up momentum.
Here is a chart of the SPY:
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